Union Fund Seeks to Return $127 Million in Dead Teamsters Money

A massive pension fund on the receiving end of an extra $127 million in federal bailout cash due to a counting error wants the Biden administration to decide if it can legally be returned.

The Central States Pension Fund sent the US Treasury and Labor departments requests for guidance Wednesday in order to determine whether the additional money it received for mistakenly counting dead participants can be recouped without violating the tax code and risking litigation under federal benefit laws.

The fund’s board will consider a motion to return the money voluntarily after the pension’s staff have completed due diligence ...